NJAN vs. IQQQ

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator Growth-100 Power Buffer ETF - January (NJAN) and ProShares Nasdaq-100 High Income ETF (IQQQ).

NJAN and IQQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. NJAN is a passively managed fund by Innovator that tracks the performance of the NASDAQ-100 Index. It was launched on Dec 31, 2019. IQQQ is a passively managed fund by ProShares that tracks the performance of the Nasdaq-100 Daily Covered Call Index. It was launched on Mar 18, 2024. Both NJAN and IQQQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

NJAN vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth-100 Power Buffer ETF - January (NJAN) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

NJAN vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NJAN Innovator Growth-100 Power Buffer ETF - January	-1.97%	14.20%	10.58%
IQQQ ProShares Nasdaq-100 High Income ETF	-4.33%	17.11%	13.39%

Returns By Period

In the year-to-date period, NJAN achieves a -1.97% return, which is significantly higher than IQQQ's -4.33% return.

NJAN

• 1D: 0.88%
• 1M: -1.77%
• YTD: -1.97%
• 6M: 1.14%
• 1Y: 15.61%
• 3Y*: 12.40%
• 5Y*: 6.57%
• 10Y*: —

IQQQ

• 1D: 1.09%
• 1M: -4.09%
• YTD: -4.33%
• 6M: -2.69%
• 1Y: 19.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

NJAN vs. IQQQ - Expense Ratio Comparison

NJAN has a 0.79% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

NJAN

Innovator Growth-100 Power Buffer ETF - January

IQQQ

ProShares Nasdaq-100 High Income ETF

Return for Risk

NJAN vs. IQQQ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NJAN

NJAN Risk / Return Rank: 74
NJAN Sharpe Ratio Rank: 68
NJAN Sortino Ratio Rank: 73
NJAN Omega Ratio Rank: 79
NJAN Calmar Ratio Rank: 69
NJAN Martin Ratio Rank: 82

IQQQ

IQQQ Risk / Return Rank: 56
IQQQ Sharpe Ratio Rank: 55
IQQQ Sortino Ratio Rank: 50
IQQQ Omega Ratio Rank: 51
IQQQ Calmar Ratio Rank: 68
IQQQ Martin Ratio Rank: 56

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NJAN vs. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - January (NJAN) and ProShares Nasdaq-100 High Income ETF (IQQQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	NJAN	IQQQ	Difference
Sharpe ratio Return per unit of total volatility	1.25	1.02	+0.24
Sortino ratio Return per unit of downside risk	1.92	1.40	+0.52
Omega ratio Gain probability vs. loss probability	1.32	1.20	+0.12
Calmar ratio Return relative to maximum drawdown	1.95	1.81	+0.14
Martin ratio Return relative to average drawdown	9.97	5.67	+4.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NJAN vs. IQQQ - Sharpe Ratio Comparison

The current NJAN Sharpe Ratio is 1.25, which is comparable to the IQQQ Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of NJAN and IQQQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NJAN	IQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	1.02	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.67	-0.13

Correlation

The correlation between NJAN and IQQQ is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

NJAN vs. IQQQ - Dividend Comparison

NJAN has not paid dividends to shareholders, while IQQQ's dividend yield for the trailing twelve months is around 8.71%.

	TTM	2025	2024
NJAN Innovator Growth-100 Power Buffer ETF - January	0.00%	0.00%	0.00%
IQQQ ProShares Nasdaq-100 High Income ETF	8.71%	10.34%	7.27%

Drawdowns

NJAN vs. IQQQ - Drawdown Comparison

The maximum NJAN drawdown since its inception was -20.70%, roughly equal to the maximum IQQQ drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for NJAN and IQQQ.

Drawdown Indicators

	NJAN	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-20.70%	-20.41%	-0.29%
Max Drawdown (1Y) Largest decline over 1 year	-8.26%	-11.63%	+3.37%
Max Drawdown (5Y) Largest decline over 5 years	-20.70%	—	—
Current Drawdown Current decline from peak	-3.44%	-7.79%	+4.35%
Average Drawdown Average peak-to-trough decline	-3.91%	-3.83%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	3.71%	-2.09%

Volatility

NJAN vs. IQQQ - Volatility Comparison

The current volatility for Innovator Growth-100 Power Buffer ETF - January (NJAN) is 3.83%, while ProShares Nasdaq-100 High Income ETF (IQQQ) has a volatility of 6.20%. This indicates that NJAN experiences smaller price fluctuations and is considered to be less risky than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NJAN	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	6.20%	-2.37%
Volatility (6M) Calculated over the trailing 6-month period	5.80%	12.66%	-6.86%
Volatility (1Y) Calculated over the trailing 1-year period	12.53%	19.48%	-6.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.34%	18.87%	-6.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.06%	18.87%	-5.81%